Elliott Wave Plus – Daily Trend Report on the FANG+3 Stocks for November 20, 2020

Sid Norris

Elliott Wave Plus

Daily Trend Report on the FANG+3 stocks for November 20, 2020

Scroll down to view today’s Trend Charts of the FANG+3 stocks (FB, AAPL, AMZN, NFLX, MSFT, GOOGL, & TSLA)

Today’s Summary

Elliott Wave Plus – The stock market ended the week on a sour note today.  The Dow Jones Industrial Average closed down 219 points (0.75%), the S&P-500 was down 24 points (0.68%), the Nasdaq-100 (NDX) was down 78 points (0.66%), and the Russell 2000 was flat (up 1 point (+0.07%)).  It will be interesting to see if the market can “stay up” next week in keeping with its normal seasonal bullishness around the Thanksgiving holiday here in the US.

Within the FANG+3 group, six of the seven stocks were down on the day.  Only NFLX was up.  Five of the stocks are currently on buy signals (AAPL, GOOGL, MSFT, TSLA, and new today, NFLX), but four of the seven stocks in the group are now inside pink “AMA sell zone boxes” (AMZN, FB, MSFT, and NFLX).  The FB and MSFT sell boxes just started to show today, as I mentioned that they might yesterday.  Have a great weekend!

Here are today’s trend-following-system screenshots on the FANG+3 stocks:

(click on each screenshot to enlarge)

Elliott Wave Plus – Today’s Daily Trend Charts

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